As one stands in awe, amazed at the $47 billion opening ceremony of the Beijing 2008 XXIX Olympiad , you cannot avoid being overwhelmed by the thunderous Chinese drums, portraying the ancient arts of Chinese calligraphy and body painting, printing, marine-faring and abilities in intricate display of mangle of modern human ingenuity and technological presentation. To the Chinese, it seems that Impossible is Nothing.

Yes, China is sending a message to the world, that it is ready for the world, be it in sports or more so otherwise.

Since Deng Xiao Peng opened its doors to the world in the 1980's, it is seen to have transformed itself from an agricultural country into one of the world's mammoth manufacturers with its extensive industrialization drive. With 20 years of the communistic thought taking a back seat and planned economic revolution has landed China as the preferred primary investment destination since 2000, but not without certain repercussions.

Market Ignorance and Speculative Greed

As the Chinese stock market liberalizes itself at also a breakneck speed, therein lies an onrush of savings being siphoned into equity markets. However, the mass mindset is skewed towards speculation, a very dangerous proposition for any individual not equipped with the basic fundamentals of equity investments.

The latest Epoch Times in June 21, 2008 reports the Chinese market loss of whopping 14 Trillion Yuan or US$2.03 Trillion within 8 months! 92.5% of investors suffered losses, with loss capitalization of more than 50% of their financial assets.

China and WTO ? Still In the Works

Liberalized China generated GDP growth rates of more than 10% over the past 4 years, rising per-capita income and poverty reduction, continues to be one of the largest recipients of inward FDI and has become a large provider of outward FDI. But there with liberalization comes imbalances in the sources of growth in the economy, from exports and investment rather than by consumption, a widening gap between savings and investment reflected in China's growing current account surplus, and rising income inequality despite high GDP growth.

Cutting Short the Learning Curve At the Expense of Experience

US and Europe took 100s of years explore Entrepreneurship and sharpen their management expertise. True Business Management expertise of large corporations must be nurtured over time. You just cannot short circuit that learning curve.

The major manpower issue faced by MNCs and venture capitalists in China is that there is too much money yet not enough fundable people, with recruiting and retaining good people as the biggest obstacle to growth.

In Conclusion

One greatest consolation that will eventually redeem the legitimate economic powess of China is Time. Given time, by China's sheer passion & power to make changes with its 1.33 billion population, I am confident China will be Ready sooner than we think.